MT4 indicator (iPanel_Indicators.ex4, iPanel_Trend.ex4)
How to trade with iPanel_Indicators.ex4
iPanel indicator scans signals from several Forex indicators across multiple time frames and transforms everything in a neat box with up and down arrows. Up - buy, down arrow - sell.
What Indicators traders monitor with iPanel?
Stochastic 8, 3, 3 - iPanel shows position of 2 Stochastic lines %K and %D (on the screen shot above they would correspond to %K - red and D% - blue).
RSI 14 - When RSI reads above 50, it'll be an uptrend and a green arrow up, RSI below 50 - downtrend and the red arrow on iPanel pointing down.
CCI - (settings for CCI are unknown, unfortunately; my guess it might be 14 or 20.
On iPanel, CCI has a special status - it has an additional set of arrows - inclined up and inclined down arrows). These arrows have the following meaning:
MACD 12, 24, 6 - remember you can change indicator settings, on the screen shot I put MACD back to standard 12, 26, 9 settings.
When MACD histogram is above zero and MACD signal line is hovering above the histogram - Sell.
When MACD histogram is below zero and MACD signal line is hovering below the histogram - Buy.
EMA1 - is a crossover signal from 2 MAs: 5 EMA and 8 EMA
5 EMA above 8 EMA - buy, opposite - sell.
EMA2 - is a crossover signal from 2 other MAs: 26 EMA and 52 EMA
26 EMA above 52 EMA - buy, opposite - sell
What time frames are displayed on iPanel?
That shouldn't create difficulties, we have: 4 hour, 1 hour, 30 min, 15 min, 5 min and 1 minute charts.
How to use iPanel signals
As you can see, iPanel creates aggregated reports across multiple time frames and it sends lots of signals from a set of indicators. Taking all those signals into account when entering a trade would, most likely, be impractical - there is too much information to digest.
An ideal case is when across multiple time frames you have the same signal for any particular indicator: for example, all green arrows for MACD across all time frames. You don't want to sell when you see this signal.
How to use iPanel_Trend.ex4
iPanel_Trend indicator speaks for itself, it suggests a current trend and tells how strong this trend is.